Satellite operator Satellite aims to deploy the first Low Earth Orbit (LEO) constellation with 5G standards for the Internet of Things (IoT) and 100% Earth coverage, and is set to enter the commercialization phase of its 5G-IoT constellation with the launch of four satellites on SpaceX’s Transporter-11 mission.
The launch is scheduled for July, with the satellite launching aboard a Falcon 9 rocket from Vandenberg Air Force Base in California.
The four CubeSat 6U satellites that Satelliot will launch in July 2024 will each have an investment of 500 million euros. They will measure 20 x 10 x 35 centimeters and weigh 10 kilograms. They will orbit at an altitude of about 600 kilometers and have a lifespan of more than five years.
The technology is designed to provide connectivity to the more than 8 million devices that have already subscribed to the service, and Sateriot guarantees it is “democratic and accessible”, making it applicable to a variety of use cases for small and medium-sized businesses, government agencies and large enterprises.
Satelliot stressed that the fundamental components of these satellites are internal to the satellites, supported by its own innovative technology, and tested and validated by the European Space Agency (ESA) and mobile communications standards body 3GPP.
In 2023, Sateliot announced efforts to extend the reach of Telefónica’s 5G network through its Telefónica Tech and Telefónica Global Solutions (TGS) divisions, providing end-to-end satellite coverage extension to the operator’s cellular network through standard GSMA roaming.
Jaume Sampera, CEO and co-founder of Sateriot, commented on the launch: “With this launch, we enter a new dimension in which Spain can lead the way in IoT connectivity on a global scale.”
Founded in 2018, Sateriot claims to offer the first LEO satellite constellation based on 5G standards, enabling unmodified commercial cellular NB-IoT non-terrestrial network (NTN) devices to connect from space — the first time ever, it claims, that terrestrial cellular communications and satellite connectivity have been converged.
The company’s business plan calls for revenues of 500 million euros in 2027 and 1 billion euros in 2030, with an EBITDA margin of more than 60%. The company plans to deploy more satellites by 2025 and has already secured recurring revenue contracts of 200 million euros from more than 400 customers in 50 countries around the world.
To achieve its goals, the company is in discussions with domestic and international space industry stakeholders and investors and is seeking to complete a Series B funding round of €30 million.
Since its founding in 2018, Sateriot has raised €25 million, including €6 million from Santander. In addition to these funds, in March 2024 it announced a €5 million convertible bond fundraising and a €2.5 million participatory loan from public company Avansa.
Sateriot said these funds, along with the launch of its Series B, will enable it to advance technology development, including the launch of four new satellites, and strengthen its team to fully deploy its constellation in 2027/2028 to provide real-time coverage around the world.
